- (1.) This appeal is directed against the judgement and order dated 20.12.2012 passed by the learned Single Judge in G.A No. 1191 of 2012 whereby the learned Single Judge restrained the appellant from proceeding with arbitration proceeding bearing case No. 18582/ARP before the ICC International Court of Arbitration at Paris.
(2.) Cross-objection has been filed by Haldia Petrochemicals Ltd. (hereinafter referred to as 'HPL'), respondent No. 1 plaintiff, which was also heard along with the instant appeal.
(3.) On 21st March, 2012 the appellant Chatterjee Petrochem (Mauritius) Company (hereinafter referred to as 'CPMC') filed a request for arbitration in ICC, Paris for the following reliefs: (a) An award: (i) (1) That WBIDC take all necessary steps and GoWB ensure that WBIDC takes all necessary steps forthwith to: (A) dematerialize The Shares (being the shares in Haldia bearing certificate number HPL 24 and distinctive numbers 29 to 155100026 inclusive); (B) issue instructions to its depository participant to transfer the same to CPIL; (C) ensure that the depository records CPIL as the beneficial owner of the same in the Register of beneficial owners of the depository, and (2) that Haldia take all necessary steps to facilitate the dematerialization and transfer of The Shares and registration of CPIL as their owner and GoWB and WBIDC procure that the Haldia directors appointed by WBIDC vote in favour of any resolution necessary to achieve the same. (ii) (1) That WBIDC accept from CPIL as nominee of CPMC Rupees 1,173,449,980 being the sum of unencashed loan payments (being the loan for Rupees 1,473,449,980 deemed made by WBIDC in favour of CPIL on 8 March, 2002) upon the same by CPIL which CPMC undertakes CPMC to do within such time as may be specified in the Award; and (2) declaring that upon such re-tender the pledge of shares under the Loan shall stand discharged. (iii) That WBIDC deliver to CPIL on behalf of CPMC the documents of title 9including the original share certificates) for the Additional Pledged Shares (being the 38,775,000 shares in Haldia deposited in esorow by CPMC on 8 March, 2002). (iv) That WBIDC and GoWB and Haldia procure that the directors nominated by WBIDC vote with CPMC directors on all issues. (v) That upon the first General Meeting called subsequent to the transfer of The Shares in accordance with paragraph (X) of the award and at every subsequent General Meeting WBIDC and/or GoWB vote for any shareholder resolution proposed by CPMC reconstituting the board of Haldia or amending Haldia's Articles of Association, in each case such that CPMC is empowered to appoint a number of directors proportionate with shareholding. (vi) That WBIDC do and GoWB cause WBIDC to transfer to CPMC or its nominee CPIL such of WBIDC's or GoWB's shareholding (up to a maximum of Rupees 360 crores per transfer) as is from time to time required to ensure that CPMC/its nominees/affiliates have 51% of the total paid up equity of Haldia. (vii) Such other or further Awards as may be deemed appropriate in the circumstances.;